How Has The Neurovascular Catheters Market Size Evolved In Recent Years?
The neurovascular catheters market has seen considerable growth due to a variety of factors.
•In recent years, the neurovascular catheters market has seen considerable growth. It's projected to expand from $4.51 billion in 2024 to $4.91 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 8.8%.
The growth observed in the historic period can be largely ascribed to several factors such as the increase in enterprise paperwork, improved accuracy and recognition rates, the surge of banking and financial services, digitization of medical records, the requirements of the education sector, and initiatives to reduce costs.
What Is The Projected Growth Of The Neurovascular Catheters Market?
The neurovascular catheters market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, the neurovascular catheters market is predicted to witness a swift expansion. The market size is projected to reach $7.46 billion in 2029, growing at a compound annual growth rate (CAGR) of 11.0%.
The anticipated surge within the forecast period can be ascribed to factors such as regulatory adherence requirements, heightened data analytics, broader industry acceptance, improved security measures, and environmental sustainability. Key market trends during this period are expected to include automated invoice processing, cloud-based OCR systems, multilingual OCR competence, integration with robotic process automation, data extraction and analysis, and user-friendly interfaces.
What Are The Primary Growth Drivers In The Neurovascular Catheters Market?
An increase in neurological disorders is predicted to spur the expansion of the neurovascular catheter market. These are illnesses impacting the brain, the body's entire nerve network, and the spinal cord. Neurovascular catheters are implemented for diagnosing and treating such conditions, involving procedures in the brain and intracranial sectors, including neurovascular organs. As mentioned in a World Health Organization report released in 2022, originating from a Switzerland-based public health organization, one out of every four individuals over 25 is forecasted to experience a stroke in the course of their lives. Meanwhile, an estimated 13.7 million people have their first stroke each year, with 5.5 million succumbing to its effects. Furthermore, approximately 15 million people globally are suffering from a hemorrhagic stroke, a scenario where a ruptured blood vessel leads to bleeding within the brain. Consequently, the growing prevalence of neurological disorders is stimulating the neurovascular catheter market's expansion.
What Is The Segmentation Of The Global Neurovascular Catheters Market?
The neurovascular catheters market covered in this report is segmented –
1) By Type: Micro catheters, Balloon Catheters, Access Catheters, Embolization Catheters, Other Types
2) By Application: Embolic Stroke, Brain Aneurysm, Arteriovenous Malformations, Other Applications
3) By End-Use: Hospitals, Clinics, Ambulatory Surgical Centers, Diagnostic Centers
Subsegments:
1) By Micro Catheters: Steerable Micro Catheters, Non-steerable Micro Catheters
2) By Balloon Catheters: Distal Balloon Catheters, Proximal Balloon Catheters
3) By Access Catheters: Diagnostic Access Catheters, Interventional Access Catheters
4) By Embolization Catheters: Soft Embolization Catheters, Stiff Embolization Catheters
5) By Other Types: Coil Catheters, Reinforced Catheters, Hydrophilic Catheters
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What Emerging Trends Are Shaping The Neurovascular Catheters Market Landscape?
The surge in technological advancements is a current trending pattern in the neurovascular catheters market. Leading firms in this market are developing innovative products to solidify their market standing. For example, Bendit Technologies, an innovative catheter manufacturer based in Israel, launched Bendit21 in February 2022. This steerable micro catheter is designed for treating symptomatic internal carotid artery aneurysm. The innovative features of Bendit21 include three-dimensional movement controlled by a clinician, and an independent control system for catheter tip deflection, which is meant to facilitate access to challenging vascular locations like the coronary, peripheral, and neurovasculature. Moreover, this steerable micro catheter simplifies the complex catheterization procedure into a single step, resulting in quick and accurate outcomes.
Who Are the Key Players in the Neurovascular Catheters Market?
Major companies operating in the neurovascular catheters market include:
• Medtronic plc
• Stryker Corporation
• Integra Life Sciences Holdings Corporation
• Penumbra Inc.
• Johnson & Johnson
• Terumo Corporation
• Acandis GmbH
• Biomerics LLC
• Zeus Industrial Products Inc.
• Spiegelberg GmbH & Co. KG
• Zimmer Biomet Holdings Inc.
• Concentric Medical lnc.
• Raumedic AG
• Olympus Corporation
• Braun Melsungen AG
• Integer Holdings Corporation
• Imperative Care Inc.
• Balt LLC
• DePuy Synthes Companies
• Creganna-Tactx Medical
• Phenox GmbH
• Teleflex Incorporated
• Microvention Inc.
• Boston Scientific Corporation
• Cook Medical LLC
• Cordis Corporation
• Merit Medical Systems Inc.
• NeuroSigma Inc.
• Rapid Medical Ltd.
• Surtex Instruments Limited
• Vascular Solutions Inc.
• W. L. Gore & Associates Inc.
• Abbott Laboratories
What are the Regional Insights into the Neurovascular Catheters Market?
North America was the largest region in the neurovascular catheters market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global neurovascular catheters market during the forecast period. The regions covered in the neurovascular catheters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
